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Showing posts with label economy collapse. Show all posts
Showing posts with label economy collapse. Show all posts

Friday, November 01, 2013

Collapse Coming

How to Survive the Collapse of Civilization
Total social breakdown. Major cities gone. Earth changes. 
























The Coming Collapse*:- civilization on the brink -by Joel A. Wendt

*This was written originally around the year 2000.  As people know today, the Collapse has come, and it was the economic relationships which proved to be the most fragile of the various complex systems in which Civilization is manifested.  At the time I write this (March, 2009) the unfolding of the Collapse is hardly begun - much more will "fall apart".  We just need to keep in mind (as stated elsewhere in my writing), that "falling apart" or chaos, is a necessary first stage for something new to begin.   The Phoenix burns to ash in the fire of its passions, before it rises again.

 

Excerpts~  

This is something we know instinctively is happening.  We can't help but notice the odd kinds of decay everywhere. 

  Somehow things keep getting worse instead of getting better.   If we have some understanding of complex systems, we know that when certain kinds of basic changes in the totality are about to occur, the whole system begins to oscillate in a rather wild fashion.   This goes on until some kind of crisis point, after which the whole finds a new equilibrium.   

In a sense, the principles of order that previously gave our civilization its cohesion have become exhausted.   

They can no longer provide stability.    Something new must now be called forth.  Will it be based in the darkness of our lower impulses, or arise in light of our highest hopes.  In such circumstances we approach a great battle.   What will happen is not fixed, although one can say that we do live in interesting times. 

Mar 12, 2011
... living here on NaturalNews. Sources for this story include: http://www.telegraph.c. Fred Saenz, American Phoenix Learn more:http://www.naturalnews.com/031658_aquifer_depletion_Ogallala.html#ixzz1GMdwTCgQ ..






Earth Changes

Natural And Human Caused Changes To Our Planet
URGENT WARNING: Massive Disasters Brewing

You are undoubtedly aware of the increased severity of natural disasters caused by storms, tornadoes, extreme temperatures, drought, fires, floods, tidal waves, volcanoes, earthquakes and sinkholes in locations around the world.

The March, 2011 earthquake in Japan was one of the largest on record and the destruction was horrific. The damage to the Fukushima nuclear plant still has those who are aware of the ongoing leakage, on edge about the radiation that has spread across the northern hemisphere contaminating food and water in North America.

Several major earthquakes and volcanic events as well as sinkholes have manifested in the last few years. It is speculated this may have some relationship to the cyclic positioning of the major planets Jupiter and Saturn in their current relation to the Earth and the sun, or the solar system's changing position in the galaxy, or the effect of celestial bodies coming through the solar system.

Until not long ago we had been experiencing a lengthy "solar minimum", a period of low solar activity. More recently, solar flares picked up again as we entered a time of solar maximum. These periods are normally fairly well determined and routine. The sun is supposed to be in a period of increased activity according to its normal maximum and minimum cycles, but it has been abnormally quiet as it was in past "little ice ages".
In the past, extremes of cold weather have been experienced during times such as this, with low solar flares during a maximum. It is still possible that solar eruptions could increase.
In any case, the sun has a major effect on planetary weather conditions. There is also evidence that weather is often manipulated with little publicized technologies.

Within the last few years a huge number of structures and crops have been damaged by storms, high winds, tornadoes, tsunamis, massive floods, drought, wild fires, extreme temperatures, deep snow, ice storms, etc., ravaging many areas and disrupting the lives of many thousands of people.

In some instances, millions have found themselves suddenly without power, for days or weeks. There have been areas where little or no food was available for a long period.In Russia, drought and fires ruined the 2010 season's crops forcing them to curtail wheat exports. In 2011, the Mississippi River flood wiped out many acres of crops in the central U.S. Meanwhile drought and wildfires have devastated much of the nation the last two summers, with thousands of homes, millions of trees and vast amounts of crops lost.
Click here for an article on the increased frequency and intensity of natural disasters.
With the planet's rumbling with greater intensity, the expansion of sinkholes, especially the one in Louisiana, and the signs of a possible polar shift in progress, it seems the Earth may be on the verge of major changes. A sudden powerful geophysical event could be very destructive.It is important to be aware that one or more major disturbances of nature could cause very serious food shortages. Food stocks are already drastically low in most areas of the world. Even in the U.S., grocery stores and the average household have only enough food on hand to last a couple days if the supply chain were interrupted.
URGENT WARNING: There is much information being shared about Comet Ison and a possible "Planet X" coming through our solar system, an Electro Magnetic Pulse, a geophysical shift -- some major change in our solar system that may cause serious disruptions of the sun and Earth with devastating effects to come, perhaps very soon. There is said to be a media blackout on this by authorities. 


Excerpts continued ~

For a long time now, human beings have been trying to discover the secrets of living organisms.  


Whole departments of universities are devoted to these studies - zoology, botany, micro-biology to name but a few.   With the discovery of DNA in the middle of the 20th Century, it was assumed that a giant stride forward had been made.  In fact, many think that we have found, in DNA (and related work) the fundamentals of all life.

Based upon this work, human beings have begun to attempt to engineer living organisms.   DNA has been altered in plants and animals, sometimes for pure research, but most often in the search for profit.  Huge corporations have spent billions trying to find profitable ways of applying this kind of understanding of life processes.   Patents have been applied for and received, and the new (altered DNA) organisms have been sold widely as products, especially in agriculture.

GENETICALLY MODIFIED ORGANISMS


We now have out in Nature organisms that have been lifted out of the web of life, altered in a laboratory, and then returned and set free in the womb of these very complicated and delicate ecologies.   Does anyone really think we have a mature enough understanding to act in this way?

Clearly we have not.   For the fact is that already we have had altered plant organisms acting in the environment in unpredicted ways.  In spite of the assurances of leading scientists, working for these corporations, our knowledge is clearly limited, and unwanted consequences are already occuring.   Here is a link to the best website on these questions: The Nature Institute.  And, here is a link to Barry Commoner's Harper's Article: Unravelling the DNA Myth - The Spurious Foundation of Genetic Engineering.
This is a situation which will only get worse.

Basically we have profit driven organizations seeking to apply deep alterations of the natural environment at the same time as they believe in an illusion.   They think they understand the natural world, but do not.   What is worse is that they have every reason for appreciating the limits of their knowledge, but greed exceeds caution (witness the recent acts of British Petroleum in the Gulf). 


....



Moreover, the premise of predictability is not just scientifically unsound; it is morally irresponsible. The safety of our food is being put at risk in a cavalier, if not callous, fashion, not only in disregard of scientific knowledge, but in disregard of recent technological history. 

Here, too, lessons should have been learned from the physical sciences. Time and again, the overhasty application of nuclear technologies led to numerous health and environmental disasters. 

For example, in the early days of nuclear technology, the rush to commercialize led to the sale of radium tipped wands designed to remove facial hair. Nine months later the cancers came.  Similarly, the failure to comprehend the full range of risks and to proceed with prudence has led to many disasters in the nuclear power industry.

In the case of genetic engineering, even greater caution is called for: a nuclear disaster only lasts 10,000 years, whereas  gene pollution is forever--self-perpetuating and irreversible.

The irresponsible behavior that permitted the marketing of bioengineered foods has not been limited to the scientific  community, but includes the executive branch of the federal government. The FDA's internal records reveal that its own experts clearly recognized the potential for gene-splicing to induce production of unpredicted toxins and carcinogens in the resultant food. These same records reveal that these warnings were covered up by FDA political appointees operating under a White House directive to promote the biotech industry.  It is unconscionable that the FDA claimed itself unaware of any information showing that bioengineered foods differ from others, when its own files are filled with such information from its scientific staff. And it is unconscionable that it permits such novel foods to be marketed based on the claim they are recognized as safe by an overwhelming consensus within the scientific community, when it knows such a consensus does not exist.

The StarLink fiasco further demonstrates the shoddiness of the government's regulation, since the system failed to keep even an unapproved bioengineered crop out of our food. 

Indeed, the contamination was discovered not by the government, but by public interest groups. The FDA had no clue and had taken no measures to monitor. This incident also demonstrates how difficult it will be to remove a bioengineered product from our food supply if it is eventually found to be harmful and, therefore, how important it is to prevent the introduction of new ones and to phase out those currently in use.

It is high time that science and the truth be respected, and that the false pretenses enabling the commercialization of bioengineered foods be acknowledged and abolished. I call upon the members of this panel to uphold sound science so that you can hold your own heads up as the facts about the hazards of bioengineered food become increasingly well known.  I call upon you not only to resist the pressures to approve the pesticidal protein in StarLink Corn; I call upon you to honestly acknowledge the inherent risks of genetic engineering and to affirm that, due to these risks, neither StarLink nor any other bioengineered food can be presumed safe at the present stage of our knowledge."

For a deeper understanding of these issues go to: http://www.southerncrossreview.org/19/gmcrops.htm

Let us return to the initial question, which concerns the collapse of our present civilization.

In the above example, we have looked at a situation where those who understand our limits of knowledge are being ignored by those who prefer their own profits and powers over the risks to the rest of us.   This is essentially a moral failure, or better yet a moral weakness in the fundamental structures of our society.  This problem of moral weakness in the social order has been discussed in detail in the essay Basic Conceptions: fundamentals of a new social view .
 

In this case we have not just a simple moral failure, of the kind that happens all the time in the relations of individuals to each other, but rather a fundamental structural dissonance at macro levels of the social organism.   The food supply of our civilization has become dominated by agribusiness, which continues to demonstrate that it is incapable of acting for the benefit of the whole.   While Civil Society (in its present configuration) opposes this, it currently lacks the capacity to heal the dissonance.
Now it is not the thesis of this essay to suggest that this macro dissonance is going to be the cause of a fall of our civilization.  

The point is otherwise.

....




....

If one looks around at the current phenomena of our civilization, a number of such fundamental functional dissonances can be seen to exist.  Moreover, they frequently interact and often are interdependent.   A collapse of one system, may weaken, or even bring about the collapse of others.

....  It does concern something we all know about, which we recognize as the creation and proliferation of weapons of mass destruction.

Now there is a level where this involves a gap between knowledge and reality, namely in that we created these weapons telling ourselves that it would be possible to contain or control their use.   This is a kind of psychological illusion - this belief that we can somehow keep these weapons from being used.   History certainly does not support such a view, and the fact that their use is to many "unthinkable", we know that they will be used.   The atomic bomb has been used in Japan, and bacteriological weapons were used in Iraq and Iran.  The real foolishness is to not expect them to be used.   In fact, if there is a serious environmental collapse, or an economic collapse, the likelihood of the use of weapons of mass destruction (now that so many nations - and even some individuals or small groups - have them) increases.

* (Above excerpts first written by Joel A. Wendt
around the year 2000)

OUT OF THE ASHES A NEW PEOPLE WILL RISE

1 Samuel 4:21 And she named the child Ichabod, saying, The glory is departed from Israel: because the ark of God was taken, and because ofher father in law and her husband. "Words from the Father" to Stephen Hanson: "This nation isn't going to rebound and come unto her glory. For her glory has been taken away from her. For you oh America are no longer to be called the land of the ....
More:

Contributing sources:
http://www.secretsofsurvival.com/survival/collapse_of_civilization.html

http://survivethechanges.com/earth_changes.htm

http://thecelestialconvergence.blogspot.com/2011_07_07_archive.html




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Survive Anything - Disasters - Economy Collapse - Mobs, Etc. PROTECT YOUR FAMILY!

37 Food Items that will be SOLD OUT after Crisis: Prepare!

NASAknows something Survival Guide




How to survive the Coming Food Crisis Click Here



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NWO Vision Report Watch 



Oct 07, 2013

THE DRAGON AND THE PHOENIX IN THE BIBLE - NEW EARTH ... www.eifiles.cn/dp-en.htm. New Earth prophecy, ... Legends also speak of the phoenix—a bird of beauty from the first paradise. ... and rises to new life from ...


The Anti-Christ Identity? Can we know it now?


2012 - The Untold Story Click Here 

Ping your blogAnd Chomp it www.Hypersmash.com

Wednesday, September 18, 2013

Alert: Banking Cyber Attack - Not Coincidence, Not Glitch

Lloyds Banking Group downed by IT Glitch




From Urban Survival Blog:http://urbansurvival.com/blog/2013/09/13/triskamarketphobia/

Triskamarketphobia? (Fear of the number 13)

You gotta love it when the market has just run into overhead resistance in the S&P 1,686 level and just can’t seem to get enough traction, and then looks like it will fall back.  You see, because the S&P and the Dow have not been able to punch through the old highs set on August 5th and 2nd respectively, the doors of hell could open in the next couple of weeks because (repeat after me) Crashes don’t just appear out of thin air:  they occur often times 55-days, or so, from a major high (which is coming up soon enough) and along the way there, you’d expect (under Elliott wave rules) to see Wave 1 down, then a wave 2 rally, and the decline and rally would then give you some key insight as to what will happen next.
That’s because a “normal” decline might be expected to be 1.608 times the first wave down, and then a 5th wave down would be another 1.5 to 1.8 times, except that with high frequency trading, it could be 2 1/2 or 3 1/2 times that.  So we sit with our cuppa Kona roast this morning (thanks again Hawaii Hank for that!) and ponder our navels and next trading moves.
One more “up” is possible, to the 1720-1735 area on the S&P, but catching falling knives is not the smartest thing to do on Friday the 13th. 
A week or three back I suggested in one of my columns, with gold north of $1,425, that a move down to the $1,200 level and lower seemed to be in the cards, too.  And sure enough, this morning, gold futures are down to $1,312 and, once a potential sell-off in coming weeks in the markets gets organized (if it does, remember this is not financial advice) than as big players sell everything including the kitchen sink and any gold or silver laying around, we could see the bottom drop out from under gold.  Not yet, but the potential is out there.



Quayle Alerts:
9/16/13-- V'S EMERGENCY UPDATE-Alert. It's Not A Coincidence, It's Not A Glitch/
I will keep this to the point. For many months I have been warning that there will be a banking/financial cyber attack that will put the economy on it's back. This was one of the scenarios that the banksters have been wargaming/simulating for years.

I became privy to it once it was revealed to me that not only are the banks open to it, but that they are doing nothing to prevent it. No real investments nothing in protecting vital banking infrastructre. I have in past alerts notified many as to the hacks that have syphoned billions from investors/depositors.

Over the last few weeks we have seen massive interruptions from online banking to exchanges shutting down for hours at time. This is not just a mere coincidence, when one takes into account the large scale of these disruptions. It becomes clear that something is fundamentally wrong.

From payroll problems in the private sector to now the very same issues affecting the public/federal sector. This problem seems to be mounting and I believe the culprits are two fold.

One, there is an anomaly that is moving through the system. This is causing an incredible amount of "glitches" and fail safes to trigger. This is true and it is happening. Time will tell what this anomaly is though followers of this site and of mine know what it really is.

Two, the sudden issues in exchanges as well as payroll are symptomatic of the massive liquidity crisis that we are facing. I have illustrated to many over the months the absolute insolvency of the US financial system. I have documented many of the biggest banks in this country are borrowing as little as $10,000 from the FED window as they simply are short and do not have the funds to pay their expenses.

Add all this and the continued bellicose musings/rants from the politicians in this country of now wanting to attack Iran and we can see where this is all going. Whatever manifests in the next few weeks is something that is the progeny of NOT one event but multiple. A flock of Black Swans are looking to nest where an Eagle once flew.This is your last warning--V-
Sep 16, 2013





From Quayle Alerts:




FEDERAL EMPLOYEES PAYMENTS LATE- IS WORM SPREADING THROUGH THE PAYMENT SYSTEM
To all employees:



The following information is an update regarding payroll deposits for Pay Period 19, ending September 7, 2013. As reported an oversight occurred with the Department of Interior, Interior Business Center (DOI/IBC), certification process for Pay Period 19. This oversight resulted in delayed processing of payroll payments until the official pay date of Tuesday, September 17, 2013. This oversight affected approximately 23 agencies and 40,000 federal employees. DOI/IBC has contacted numerous financial institutions and the financial institutions listed below have agreed to deposit payments before Tuesday, September 17, 2013.

· NASA Federal Credit Union

· The Partnership Federal Credit Union

· Navy Federal Credit Union

· Citibank

· USAA Federal Savings (deposit payments on Monday, Sept. 16)

· Charles Schwab Bank

· Tower Federal Credit Union

· Meriwest Credit Union

· Century Federal Credit Union

· Energy Federal Credit Union

· Commonwealth One FCU

· Kennedy Space Center

· Johnson Space Center Federal Credit Union

· 1st Advantage Credit Union

· PNC Bank

· M&T Bank

In regards to bank fees or other charges, DOI/IBC has agreed to work with employees and their financial institutions.



Please note the following information from DOI/IBC.

Comptroller General Decisions indicate the liability of the Government is limited to that provided by law and regulations, and there is no legal basis for reimbursement of financial institution charges. For more information, please refer to Comptroller General Decision B-202273, May 7, 1981, Request for Reimbursement of Overdraft Charges; CG Decision B-228632, March 10, 1986, Charges on checks Returned for Insufficient Funds; and CG Decision B-173783, March 2, 1976, Claim for charges for Handling Insufficient Fund Checks. However, as stated, the DOI/IBC payroll division will assist employees in discussions with Financial Institutions regarding overdraft fees for insufficient funds.



To facilitate resolution on bank charges due to insufficient funds please send your inquiries to HRMS.Resource@nrc.gov. In your request, please include the information below. OCFO will forward the information to DOI/IBC for processing.



Employee Name

Employee contact number

Agency

Financial Institution (FI)

FI Routing Number or Address

Fee Charge

FI Contact Name and phone number (If available)



If you have any questions, you may contact the HRMS helpdesk at (301)415-1234 option #3 or the DOI/IBC Customer Support Center at 1-888-367-1622 option #3.
Sep 16, 2013



Lloyds Banking Group downed by IT glitch



SECURITYNEWS
09 Sep 2013 by Jamie Hinks

Lloyds Banking Group downed by IT glitch
Image Credit: Flickr (Ell Brown)

Lloyds Banking Group websites were hit with a surge in traffic that prevented customers accessing their accounts for much of the morning.

The IT glitch, which caused problems for the now separate Lloyds and TSB brands as well as Halifax, meant websites were completely inaccessible for some and prevented most customers from logging in and viewing accounts online.

"We are experiencing an issue with our internet banking service this morning, which has affected the ability of some customers to log on successfully,” read a statement from a Lloyds Banking Group spokesperson. "We are working to resolve this as quickly as we can and we apologise to customers for the inconvenience this will have caused. Our branches, telephone banking and cashpoint facilities have not been affected in any way."

Problems first began in the early hours of Monday morning with customers not able to access the Lloyds TSB site for around 90 minutes with the TSB site only starting to accept customers by 08:30. The group’s other sites came online as of 11:30 and all signs point to the problem simply being a huge amount of traffic and nothing more sinister.

Read more: http://www.itproportal.com/2013/09/09/lloyds-banking-group-downed-by-it-glitch/#ixzz2fDg5k88N


Related:



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  • Sources:
    http://urbansurvival.com/blog/2013/09/13/triskamarketphobia/

    http://www.stevequayle.com/index.php?s=33&d=562

    http://www.stevequayle.com/index.php?s=33&d=561


    http://www.itproportal.com/2013/09/09/lloyds-banking-group-downed-by-it-glitch/
    Survive Anything - Disasters - Economy Collapse - Mobs, Etc. PROTECT YOUR FAMILY!

    37 Food Items that will be SOLD OUT after Crisis: Prepare!

    NASA knows some things. 2012 Survival Guide




    How to survive the Coming Food Crisis Click Here



    SEW? Get FREE SHIPPING on orders $35+ from Fabric.com




    AquaPonics Grow Vegetables without Dirt.


    Survival Farming Click Here!

    NWO Vision Report Watch 


    The Anti-Christ Identity? Can we know it now?

    2012 - The Untold Story Click Here
     


    Ping your blogAnd Chomp it www.Hypersmash.com

    Friday, December 28, 2012

    Ready to Fall off the Wall Street Cliff?


    Wall Street heads for longest losing streak in three months


    Stocks fell on Friday, putting the S&;P 500 on track for a fifth straight decline, as President Barack Obama and top congressional leaders were set to make a last-ditch attempt to steer the country away from severe fiscal austerity next year. Obama and lawmakers from both political parties will meet at the White House on Friday afternoon for talks in an effort to agree on a solution before a New Year's deadline to keep large tax hikes and spending cuts from taking effect. Economists say that combination of automatic higher taxes and lower government spending - known as the "Fiscal Cliff" - could push the U.S. economy into a recession.


    Wall Street ends sour week with 

    5th straight decline


    Traders work the floor at the New York Stock Exchange in New York, December 26, 2012. REUTERS/Eduardo Munoz


    NEW YORK | Fri Dec 28, 2012 4:46pm EST

    (Reuters) - Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.


    President Barack Obama and top congressional leaders met at the White House to work on a solution for the draconian debt-reduction measures set to take effect beginning next week. Stocks, which have been influenced by little else than the flood of fiscal cliff headlines from Washington in recent days, extended losses going into the close with the Dow Jones industrial average and the S&P 500 each losing 1 percent, after reports that Obama would not offer a new plan to Republicans. The Dow closed below 13,000 for the first time since December 4.

    "I was stunned Obama didn't have another plan, and that's absolutely why we sold off," said Mike Shea, managing partner at Direct Access Partners LLC in New York. "He's going to force the House to come to him with something different. I think that's a surprise. The entire market is disappointed in a lack of leadership in Washington." 


    Pessimism continued after the market closed, with stock futures indicating even steeper losses. S&P 500 futures dropped 26.7 points, or 1.9 percent, eclipsing the decline seen in the regular session.



    The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family's Financial Health


    ....

    "We've been whipsawing around on low volume and rumors that come out on the cliff," said Eric Green, senior portfolio manager at Penn Capital Management in Philadelphia, who helps oversee $7 billion in assets.

    With time running short, lawmakers may opt to allow the higher taxes and across-the-board federal spending cuts to go into effect and attempt to pass a retroactive fix soon after the new year. Standard & Poor's said an impasse on the cliff wouldn't affect the sovereign credit rating of the United States.
    ....
    Highlighting Wall Street's sensitivity to developments in Washington, stocks tumbled more than 1 percent on Thursday after Senate Majority Leader Harry Reid warned that a deal was unlikely before the deadline. But late in the day, stocks nearly bounced back when the House said it would hold an unusual Sunday session to work on a fiscal solution.

    Positive economic data failed to alter the market's mood.
    ....(Reporting by Ryan Vlastelica; Editing by Jan Paschal)



    http://www.reuters.com/article/2012/12/28/us-markets-stocks-idUSBRE8BG0D620121228




    Fiscal Cliff 2013: A Timeline Of America's Long Stumble




    By Kevin Drawbaugh

    WASHINGTON, Dec 27 (Reuters) - The long, bumpy road to America's "fiscal cliff" on Dec. 31 has been traveled over many years by Congress and a series of U.S. presidents, including Democrat Barack Obama.

    Some of the steps taken along the way had good intentions; some had no intention other than to put off hard decisions, while ideological divisions on fiscal policy steadily hardened.

    On Thursday, Congress seemed to be headed toward another crucial deadline unable again to do much more than muddle through. And even that might be overly optimistic.

    Here is a timeline of how the country got where it is:

    * 1998-2001. Economic expansion of 1990s peaks. Government budget in surplus under Democratic President Bill Clinton.

    * 2001. Stock market tech bubble bursts. Republican President George W. Bush and Congress enact deep tax cuts. Some Republicans predict cuts will spur economy, pay for themselves. Sept. 11 attacks. United States and allies invade Afghanistan.

    * 2002. After four years of surpluses, U.S. budget slips into deficit of $158 billion. Bear market in stocks.

    * 2003. United States and allies invade Iraq. Bush and Congress cut taxes further. Deficit grows to $378 billion.

    * 2004-2006. Stock market recovers. Deficit shrinks.

    * 2007-2008. Housing market bubble bursts. World financial crisis. Stock market crashes. Worst U.S. recession since Great Depression. Unemployment, home foreclosures soar. Bush, Congress bail out big banks. Deficit jumps to $459 billion in 2008.

    * 2009. Obama, Congress enact $787 billion stimulus. Recession ends. Stocks bounce back. Deficit hits $1.4 trillion.

    * 2010. Obama signs healthcare overhaul. Obama forms Simpson-Bowles deficit reduction panel. Its plan for fiscal reform is largely ignored. Republicans win control of House of Representatives. Obama agrees to extend Bush tax cuts for two years. Deficit shrinks to $1.3 trillion.

    * 2011. Congress fights over Treasury Department request for increase in U.S. debt ceiling. Republicans, Democrats make peace by forming "super committee" to examine fiscal reform. Debt ceiling raised. U.S. credit rating downgraded. Super committee collapses. Deep, mandatory budget cuts triggered for 2013. Stock market makes choppy advance. Deficit estimated at $1.6 trillion.

    * Spring 2012. Bernanke warns lawmakers of "massive fiscal cliff" at year-end of tax increases and spending cuts.

    * Autumn 2012. Economists warn "fiscal cliff," left unaddressed, could trigger recession. Obama reiterates support for keeping Bush tax cuts for all except high-income earners. Republicans support extension of Bush tax cuts for everyone. Deficit for 2012 estimated to shrink to $1.1 trillion.

    * Nov. 6, 2012. Obama re-elected, Democrats keep control of Senate, Republicans keep control of House.

    * Nov. 29. 2012. After Thanksgiving holiday and weeks of little action, White House releases its first offer in "fiscal cliff" negotiations. Republicans dismiss it.

    * Dec. 3, 2012. House Republicans release counter-offer. Democrats dismiss it.

    * Dec. 14-17. Obama and House Speaker John Boehner trade key concessions and appear headed for a compromise agreement.

    * Dec. 18. Boehner walks away from talks with Obama, saying the president's plan was not "balanced." The speaker says House Republicans plan to pass a "Plan B" bill of their own.

    * Dec. 21. Unable to gather enough votes from his own party for "Plan B," Boehner abruptly adjourns Republican-controlled House for holidays. He says Obama and Democratic-controlled Senate must come up with compromise proposal.

    * Dec. 27. Senate returns from holiday break with only four days remaining until the "cliff" arrives. House still on break.

    * Dec. 31, 2012. If Congress takes no action, Bush tax cuts expire, other "fiscal cliff" elements begin to kick in.

    * Early 2013. If no action from Congress, automatic budget cuts set to kick in. Debt ceiling expected to be hit again after Treasury Department runs out of ways to postpone it.


    What is the Fiscal Cliff? - Bonds - Investing in Bonds, Bond Funds ...

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